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Dec 6, 2012
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cuts. ttat's the latest order from the white house.as part of the fiscal cliff... the pentagon may have to cut as &pmuch 500-billion from its years.that could be on top of other defense department cuts already in the pipeline. the pentagon says cuts woold most likely ttrget research and technology, weapons and civilian defense department same sex couppes caa now get married in the state of washington. the washington state the ninth state to allow same sex marriage, in addition to the district of columbia. many saae sex couples manyeattte aaministratiin &pbuilding shortly after the la was signed. couples can begin picking up theer weeding certificates and licenses starting thissmorning. right here innmaryland.... for marriage liccnses' in ballimore city and montgommey county.today governor o'malley pill sign a ppoclaimation.... affirming voters decison to allow same sex maariage ii the . state.the clerk of courts says counties ill not be required to issuus licenses before januarr first, when the law goes into effeet. ccming up on the early eddtion... playing music..
cuts. ttat's the latest order from the white house.as part of the fiscal cliff... the pentagon may have to cut as &pmuch 500-billion from its years.that could be on top of other defense department cuts already in the pipeline. the pentagon says cuts woold most likely ttrget research and technology, weapons and civilian defense department same sex couppes caa now get married in the state of washington. the washington state the ninth state to allow same sex marriage, in addition to the...
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Nov 30, 2012
11/12
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and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans campaigned against $716 million in medicare cuts from the current program. republicans for medicare reform. not for squeezing the current program. they will say i want to give the middle class, make sure the middle class tax rate stay where they are. i don't want the republicans to squeeze medicare more than we did, have done in the past. i'm worried. that the president has an awful lot of leverage. >> bret: but you have the democrats, juan, like mike pryor of arkansas who told politico this -- "as you know people around here like the
and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the...
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Dec 6, 2012
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cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool. >> yes. >> and they need to inspect it. >> counter-terrorism measures in the backyard. you never know. good morning, everyone. getting out the door this morning, it's very cold up in new england. tell you what, the lack of snow is really becoming a slightly alarming especially if you have any interest in snowy weather recreation or skiing or ice skating or maybe you like to go snowmobiling. the northern half of the country is sparse. 7% of the country has snow cover. most of that is the high elevations in the rockies and northern rockies. it's about as low as it gets. last yea
cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool....
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Dec 5, 2012
12/12
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cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide told us the two sides aren't even talking. not surprisingly the white house disagrees. >> i can guarantee you conversations continue at different levels. and among different groups. >> reporter: both parties are ready to play the blame game in case negotiations fail. >> there's only one person out of 370 million americans who can sign something into law and that's the president. >> 60% of a
cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in...
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Dec 1, 2012
12/12
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cliff. we're just 31 days until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do, and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now since the republicans let everyone's taxes go up, i'm going to ride in here now and be the -- the knight in shining armor and lower the taxes on the lower two brackets. >> it is a case that is sparking painful reminders of trayvon martin, another florida teenager shot to death in an incident that has racial overtones. i'm tal
cliff. we're just 31 days until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what...
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Dec 6, 2012
12/12
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panetta has warned the fiscal cliff would hurt our national defense. he's expected to hold a news conference any minute now. he's getting the order from the white house to brace for massive budget cut us. now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil patrick harris, remember doogie howser? he will be hosting the event. james taylor and the fray will be among the group of perform. president calvin coolidge started this tradition back in 1923. >>> well,
panetta has warned the fiscal cliff would hurt our national defense. he's expected to hold a news conference any minute now. he's getting the order from the white house to brace for massive budget cut us. now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is...
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. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not
. >> reporter: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to...
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Dec 6, 2012
12/12
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WBAL
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as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff if republicans do not accede to his demands. >> it's probably pretty real. but you can't get to where we need to go by cutting spending, that won't cut it. you're going to destroy a fragile economy. you can't get there by taxing your way into it and you can't grow your way out of this. you have to have a blend. when you have leaders of parties and people from the administration saying i think it will be to the advantage of the democrats to go off the cliff or i think it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> let me ask you about a report that some republicans now are perhaps willing to see the tax rates rise to some degree on top earners in exchange f
as you well know, we face the fiscal cliff, a series of tax hikes and spending cuts that many people think if they go into effect will put the country into recession. yet we heard the treasury secretary tim geithner say the president is willing to see the country go off the fiscal cliff if republicans do not accede to his demands. >> it's probably pretty real. but you can't get to where we need to go by cutting spending, that won't cut it. you're going to destroy a fragile economy. you...
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we're going over the fiscal cliffs. >> senator susan collins are facing budget cuts they would like to pay for the storm cleanup. the uncertain fate of the relief money comes little more than a month after the jaw dropping pre-rel pre-election image of president obama and governor christie shoulder to shoulder, a time when he promised to help victims quickly. >> i want you to cut through red tape. i want you to cut through bureaucracy. there's no excuse for inaction at this point. >> the white house said the president remains committed. >> there's no question what the president saw on staten island that enormous suffering continues. that's why we're looking at states and localities to continue the effort to assist in the recovery. >> reporter: a top congressional aide tells cnn lawmakers are waiting to see the administration proposal, and an administration official tells cnn the white house is still crunching its numbers. as for chris christie, who is up for re-election in new jersey next year, the top aide to the governor had no comment. just to get to a staggering sum of money we're
we're going over the fiscal cliffs. >> senator susan collins are facing budget cuts they would like to pay for the storm cleanup. the uncertain fate of the relief money comes little more than a month after the jaw dropping pre-rel pre-election image of president obama and governor christie shoulder to shoulder, a time when he promised to help victims quickly. >> i want you to cut through red tape. i want you to cut through bureaucracy. there's no excuse for inaction at this point....
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Dec 5, 2012
12/12
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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Dec 7, 2012
12/12
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goes over the fiscal cliff. bring in panel. charles lane for "washington post" with us. nina easton from quot fortune" magazine and of course, sindcated columnist charles krauthammer. get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create jobs which nancy pelosi is looking for are looking for political will out of washington. they are looking for certainty on the fiscal cliff. certainty that debt reduction, there will be debt reduction, that entitlements will be brought under control. looking for certainty on taxe taxes. until this happens, there isn't going to be that certainly. i h
goes over the fiscal cliff. bring in panel. charles lane for "washington post" with us. nina easton from quot fortune" magazine and of course, sindcated columnist charles krauthammer. get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take?...
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Dec 3, 2012
12/12
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when we go over the fiscal cliff, what happens? the bush tax cuts expire january 1, so they automatically go up to clinton era levels. the 2011 payroll tax holiday expires. the alternative tax kicks in. and then you have $1 trillion of cuts, half of which is in defense. how is the president doing in his pitch so far, both in his first offer and how he's going to the public to sell this? >> i think he's doing pretty well. i think he is calling for compromise. compromise means no firings of any great magnitude starting january 8. january 8, that's the first company reports. there will be a foot race to fire. who can fire the most? who saw the recession coming? and i think that compromise, which i believe the president is actually offering, avoids those firings. avoids the big spending problems that you're going to see. there's no valentine's day. there's no easter. there's no big spending days coming if you go through and don't compromise. >> here's what i think is going on in part, grover. the president is being as aggressive as he
when we go over the fiscal cliff, what happens? the bush tax cuts expire january 1, so they automatically go up to clinton era levels. the 2011 payroll tax holiday expires. the alternative tax kicks in. and then you have $1 trillion of cuts, half of which is in defense. how is the president doing in his pitch so far, both in his first offer and how he's going to the public to sell this? >> i think he's doing pretty well. i think he is calling for compromise. compromise means no firings of...
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Dec 3, 2012
12/12
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CNBC
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tax hikes and spending cuts. notice i did not call it the fiscal cliff. so ultimately which wins out? let's ask gina sanchez, director of equity and asset allocation at rubini global economics. dan, i know you've been traveling, london, san fran, all parts in between last couple of weeks. how concerned are your clients about what's going to happen on january 1st? >> it's not so much that they're concerned about what happens on january 1st because i think the bulk of our meetings have focused on the fact that this isn't really a cliff so much as a lot of people have been saying a slope. more importantly to your first question, i have been on the road for the better part of 2 1/2 months now. i don't really get many questions or have many debates about greece or spain anymore. i think there's definitely a back burner element to what's going on in europe as people focus whether it happens on january 1st or not on the fiscal cliff. >> let me follow up with that real quick. here's the thing -- the greek situation, which was driving the market negativity a few m
tax hikes and spending cuts. notice i did not call it the fiscal cliff. so ultimately which wins out? let's ask gina sanchez, director of equity and asset allocation at rubini global economics. dan, i know you've been traveling, london, san fran, all parts in between last couple of weeks. how concerned are your clients about what's going to happen on january 1st? >> it's not so much that they're concerned about what happens on january 1st because i think the bulk of our meetings have...
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the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back because today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so, people were saying, what will mitt romney -- he's got a job. he's working at a marriott, ladies and gentlemen. working at a marriott. he's the guy that comes out to the pool and tells the kids to stop splashing. all right, kids. come on. hey, fellas. listen to me. settle down here. >> that could have been funnier. >> dave, call her. >>> that's what's making news in america this morning. >>> that's what's making news in america this morning. >> stay with us for "good captioned by closed captioning services, inc. >>> good friday morning. 4:30 a.m.. i'm eric thomas. >>> and i'm kristen sze. breaking
the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back because today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your...
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Dec 7, 2012
12/12
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the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back. today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so, people were saying, what will mitt romney -- he's got a job. he's working at a marriott, ladies and gentlemen. working at a marriott. he's the guy that comes out to the pool and tells the kids to stop splashing. come on, kids. hey, fellas. listen to me. settle down here. >> that could have been
the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back. today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so,...
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there are no signs right now of a break in the deadlocked talks to avert the so-called fiscal cliff, the devastating combinations of tax increase and spending cuts that kick in january 1st. both sides seem to dig in this morning on the sunday talk shows. >> the only thing standing in the way of that would be a refusal by republicans that the rates would have to go up on the wealthiest americans, and i don't really see them doing it. >> right now, i would say we're nowhere, period, we're nowhere. >> that somber assessment today from house speaker john boehner, as geithner, the point man, went on all five sunday talk shows, cnbc, washington correspondent aman javers joining me live now. did geithner offer anything new today? >> he really didn't. he thinks the republicans are bluffing here and they are not prepared to go all the way to the mat here on behalf of tax cuts for the rich. they think at the white house they've got their republicans backed into a political corner here, and they are really pressing their advantage hard. you saw this sort of breathtaking offer by the president o
there are no signs right now of a break in the deadlocked talks to avert the so-called fiscal cliff, the devastating combinations of tax increase and spending cuts that kick in january 1st. both sides seem to dig in this morning on the sunday talk shows. >> the only thing standing in the way of that would be a refusal by republicans that the rates would have to go up on the wealthiest americans, and i don't really see them doing it. >> right now, i would say we're nowhere, period,...
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on this community. >> reporter: other possible fiscal cliff cuts that could hit rock island include the army corps of engineers, they're here in part to manage locks along the mississippi. there's cuts to public education, which the national school board association say could have profound impact if congress doesn't act. and potential cuts to social services. more than 12% of rock island's population lives below the poverty line. and of course, there are tax hikes. at theo's coffee shop, people have a lot to say about washington, d.c. and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything done. >> reporter: potential effects of the fiscal cliff in rock island, illinois are
on this community. >> reporter: other possible fiscal cliff cuts that could hit rock island include the army corps of engineers, they're here in part to manage locks along the mississippi. there's cuts to public education, which the national school board association say could have profound impact if congress doesn't act. and potential cuts to social services. more than 12% of rock island's population lives below the poverty line. and of course, there are tax hikes. at theo's coffee shop,...
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Dec 6, 2012
12/12
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WUSA
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that have come to be known as the fiscal cliff and today republicans stood by their offer to close some tax loopholes and limit deductions and called on the for the give them a new plan that the congress could. president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places like fairfax county where federal contracting is king. >> if you go make the kind of cuts that some are suggesting happen, then you're really hurting a lot of the small buss
that have come to be known as the fiscal cliff and today republicans stood by their offer to close some tax loopholes and limit deductions and called on the for the give them a new plan that the congress could. president obama spent his day with the santana family of falls church and he says they're members of the middle class and they'll be hit hard if congress fails to extend their tax cuts. meantime virginia could be hit hard if those spending cuts end up taking place especially in places...
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some key republicans are looking at extending the middle class tax cuts past the fiscal cliff deadline and postponing the battle over the tax cuts for the wealthy until next month. >>> some things going on at the hospital. two australian deejays called the hospital posing at queen elizabeth and prince charles and got through to kate's private nurse. shockingly, if you hear the audio, who briefed them on her condition. >>> and a health scare for anderson cooper. he says he went blind for almost two days. he actually showed a picture of himself wearing an eye patch. he says he lost his sight for some 36 hours last week, while reporting from portugal, after spending a couple hours on the water. cooper said he felt like his eyes were on fire. it turns out, his eyeballs were sunburned. go figure. >> it can happen. >> it can apparently. >> i did not know that. >> you do now. >>> here's diane sawyer, with a preview of tonight's "world news." diane? >> hello, josh. hello to everyone on "gma." tonight, it's not just holiday shopping. join the movement. "made in america." creates new american jo
some key republicans are looking at extending the middle class tax cuts past the fiscal cliff deadline and postponing the battle over the tax cuts for the wealthy until next month. >>> some things going on at the hospital. two australian deejays called the hospital posing at queen elizabeth and prince charles and got through to kate's private nurse. shockingly, if you hear the audio, who briefed them on her condition. >>> and a health scare for anderson cooper. he says he went...
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Nov 30, 2012
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the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit car
the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that?...
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Nov 30, 2012
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cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree on? >> the superfailed committee. this is a giant hatchet as opposed to a scalpel. >> it was designed to fail. >> i agree, but the real solution and real irony is going to be the ultimate deal's going to look like the obama boehner grand bargain that was negotiated and almost done in the summer of 2011. the fact that we couldn't make that deal then i think's a tragedy for the country. one of the thing's it did was lead to that aaa downgrading. that was unnecessary. >> let me just follow up on this point of what republicans should accept. you said you'd go back to the clinton era tax rates if you could
cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree...
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the pentagon is preparing for massive budget cuts in the event that the country does go over the fiscal cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪ >> jimmy: hey! we are in a great mood here at "late night." the grammy nominations were announced last night. i want to say congratulations to the roots! [ cheers and applause ] ♪ their album "undun" got nominated for best rap album. how cool is that? [ cheers and applause ] the greatest band in late night. but that's not all. [ drum roll ] our record "blow your pants off" got nominated for best comedy album! [ cheers and applause ] ♪ i'm so excited. i was freaking out last night. i couldn't sleep. oh, my g
the pentagon is preparing for massive budget cuts in the event that the country does go over the fiscal cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [...
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cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll sererere tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here toight with bedford open geyser c
cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll sererere tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems...
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republicans are doing a lot of maneuvering on the fiscal cliff. president obama and the democrats have put forward a plan relying mostly on raising more revenue from the wealthiest 2% of the country. republicans rely mostly on cuts affecting the middle class and the poor and republicans aren't specific about how they get $800 billion in revenue. for the conversation, let's turn to richard wolffe, msnbc political analyst and vice president and executive director of msnbc.com. and molly ball, political reporter for "the atlantic." the republican proposal includes ryan's voucher program for medicare. we're not even a month away from the election and they are throwing up on the wall everything that was rejected. why are they doing this? >> well, i can tell you why they think they have a mandate. they are throwing insults at each other and that means they are engaging. they may be way apart in terms of the lessons learned. but house republicans have put in their initial offer here. and you know, the problem for house republicans is not only have they n
republicans are doing a lot of maneuvering on the fiscal cliff. president obama and the democrats have put forward a plan relying mostly on raising more revenue from the wealthiest 2% of the country. republicans rely mostly on cuts affecting the middle class and the poor and republicans aren't specific about how they get $800 billion in revenue. for the conversation, let's turn to richard wolffe, msnbc political analyst and vice president and executive director of msnbc.com. and molly ball,...
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. >> investment banks paralyzed by the fiscal cliff. we'll find out what it will take to get deals going once again. >> we expect the president to speak on the fiscal cliff before the business roundtable. we'll bring you his comments live. citigroup cutting 11,000 jobs taking a billion dollar charge. kayla tausche has more. >> investors see this as a positive. a big move for a new ceo who is just getting his sleeves rolled up. the cuts will span across nearly all of the company's divisions but biggest slice of the pie coming from global consumer banking cutting 6,200 jobs there. the cuts are broad. nearly 2,000 jobs cut from the institutional clients group including investment banking six times the layoffs reported to take place in the securities business earlier this month. jim cramer said earlier that it feels like citigroup has been cutting jobs forever but that's because the bank has downsized by a third since peak employment in 2007. most of that cutting took place after he took the reigns. it will have 261,000 jobs once these cuts
. >> investment banks paralyzed by the fiscal cliff. we'll find out what it will take to get deals going once again. >> we expect the president to speak on the fiscal cliff before the business roundtable. we'll bring you his comments live. citigroup cutting 11,000 jobs taking a billion dollar charge. kayla tausche has more. >> investors see this as a positive. a big move for a new ceo who is just getting his sleeves rolled up. the cuts will span across nearly all of the...
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in the fiscal cliff negotiations. from "washington journal," it is 10 minutes. the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of all different sorts and what do you make a particular loophole or not depends on where you said i think. there are lots of loopholes that are deductions are deductions are the ones that most people are most familiar with. the big itemize deductions are things like a home mortgage interest deduction. there is a deduction for state and local taxes is very important. the deduction for charitable contributions is real important. there's all kinds of other breaks that exist in
in the fiscal cliff negotiations. from "washington journal," it is 10 minutes. the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are...
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the fiscal cliff is almost $8 trillion of spending cuts, revenue increases. which if you want to affect the debt, that's a big way of doing it. every economist says if you do that much that quickly, you are going to throw us back into a serious recession. you know what? at some point, we have to stop kicking the can down the road and actually thinking of long-term debt of this country. i'm never a big fan of senator cobern's positions but he's right. at some point we have to stop this. we need to do it quickly. >> and the fact is, we've got a huge spending problem. and so either you have to figure out a way to pay for what you say you want to do or reduce the spending and that's the piece that's not getting the attention it should right now. >> getting the attention from? >> either the media in some cases. they are talking about what we have to do on taxes. somewhere along the line we have to talk about what we have to do on spending. if you do as the president asks and that is raise taxes on the top 2%, it funds the government for 8 days. you can't get there
the fiscal cliff is almost $8 trillion of spending cuts, revenue increases. which if you want to affect the debt, that's a big way of doing it. every economist says if you do that much that quickly, you are going to throw us back into a serious recession. you know what? at some point, we have to stop kicking the can down the road and actually thinking of long-term debt of this country. i'm never a big fan of senator cobern's positions but he's right. at some point we have to stop this. we need...
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>> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic b
>> reporter: and brian, tonight, the white house is preparing in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm,...
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in this past election, facing a fiscal cliff of its own, the prospect of trigger cuts, if they didn't adopt proposition 30 if they raise taxes. they decided to go for the tax increases and that's because they saw what that austerity could mean. you really have to do both. we talk about the investments and the costs. >> please. >> i was going to say, the federal level, one of the things we saw in 2000, i know you want to keep taxes and spending separate, but i think we shouldn't. what we have seen is a great pitch to reduce taxes. again, i'm in favor of it. the route to great economic growth. that being said, it is not true, even with the best tax cuts when you spend like a drunken sailor, which happened under the republicans. if you cut taxes and increase spending, that's the equivalent of raising taxes in the future. i think it's key to keep those together. >> bruce, do you think there's a case to be made to fellow conservatives about raising taxes here? >> yes. first of all, the -- one of the problems with the norquist if you raise the taxes, there's -- she's incorrect. she's assumi
in this past election, facing a fiscal cliff of its own, the prospect of trigger cuts, if they didn't adopt proposition 30 if they raise taxes. they decided to go for the tax increases and that's because they saw what that austerity could mean. you really have to do both. we talk about the investments and the costs. >> please. >> i was going to say, the federal level, one of the things we saw in 2000, i know you want to keep taxes and spending separate, but i think we shouldn't....
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. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the city prepared to mark the bombing of the city in 1945. >> you know, everybody has their own view what happened, and i, i don't, i don't want to argue survival with anyone in japan about the history. i think we're past that. my whole purpose for being here is to listen, to honor the dead, to listen to the living and to see -- to do what i can to see this doesn't happen again. >> clifton truman daniel will join us sunday at 9 p.m. eastern on c-span3. >> now, a discussion of how the military and national security might be affected by spending cuts scheduled to take effect the first of the year. part
. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the...
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both sides realize it's political death for either side for us to go over this fiscal cliff, so barack obama's going to rally his side, republicans will rally their side. look, the obama administration has said they might cut up to $400 billion out of medicare. i think this is going to get done, but i think they'll wait until the last minute to make sure each side looks tough. >> what's fascinating to me very quickly, when i hear both sides of the argument and the sticking appointments where they're digging in, there's logic on both sides, but who are the dealmakers who are really pulling this together? because sometimes when i listen to some of the political folks, i'm not so sure they are the ones that are sort of moving all the pieces. very quickly, jason, ron, who do you think it is? >> i think the players on tv, you know, obviously the president's going to be part of it, speaker boehner will be part of it, but eric cantor, vice president biden, there are a number of -- senator mitch mcconnell, the minority leader, harry reid. these are the big players but, you know, there are also
both sides realize it's political death for either side for us to go over this fiscal cliff, so barack obama's going to rally his side, republicans will rally their side. look, the obama administration has said they might cut up to $400 billion out of medicare. i think this is going to get done, but i think they'll wait until the last minute to make sure each side looks tough. >> what's fascinating to me very quickly, when i hear both sides of the argument and the sticking appointments...
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always there. >>> we're only 33 days away from the so-called fiscal cliff. a drastic combination of mandatory spending cuts, tax hikes that could plunge the u.s. back into a recession. >> and there's only one way to avoid it. house republicans and president obama and his fellow democrats need to strike a deal before the end of the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all, congratulations on your re-election. thanks for coming in. republicans say, you know what, they'll be flexible, but the democrats have to be flexible, too, especially when it comes to entitlement spending. medicare, medicaid and even reform. are you open to any
always there. >>> we're only 33 days away from the so-called fiscal cliff. a drastic combination of mandatory spending cuts, tax hikes that could plunge the u.s. back into a recession. >> and there's only one way to avoid it. house republicans and president obama and his fellow democrats need to strike a deal before the end of the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in...
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the fiscal cliff. "the press telegram" in long beach, california has an article entitled "small in number, large in clout" about a strike that has slowed the nation's busiest cargo complex at the ports. they've been offered a salary boost to 195,000 with 11 weeks paid vacation. a ten-day walkout in 200002 caused $15 billion in losses. >>> the "lewiston tribune "in idaho, wanted experienced pot farmer. a washington state man seeking experts to develop a marijuana industry. possession of the drug will be legal in the state thursday. >>> now to the mystery surrounding the second winner of that massive powerball jackpot. one couple has come forward with their golden ticket. the other winner still unknown. there is, however, surveillance video showing a man who appears to be celebrating after checking the numbers on his ticket but he hasn't come forward yet. nbc's tom costello is in maryland with his story. >> alex, good day to you. everybody in this gas station here in upper marlboro, maryland says they re
the fiscal cliff. "the press telegram" in long beach, california has an article entitled "small in number, large in clout" about a strike that has slowed the nation's busiest cargo complex at the ports. they've been offered a salary boost to 195,000 with 11 weeks paid vacation. a ten-day walkout in 200002 caused $15 billion in losses. >>> the "lewiston tribune "in idaho, wanted experienced pot farmer. a washington state man seeking experts to develop a...
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part of the so-called fiscal cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary threat to the future. speaking of unsustainable, in the nixon white house in which i served, the chairman of the council, if something is unsustainable, he says it continues to stop. or if you don't like that, if your worst eyes, i suggest that you does not dismount. in lieu of that retirement, i decided to set up the foundation to increase awareness of long-term debts and get solutions. never in my experience have these things are more closely linked, in the words of mike mullen. we are endlessly reminded that everything must be on the ta
part of the so-called fiscal cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary...
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priebus unless the fiscal cliff negotiations in d.c. go the way they wants them to go, he will personally cut off the spigot of conservative money to the republican party. he says, quote, i will make it my mission to ensure that every conservative donor to the republican party that i have worked with for the last three decades, and there are many, and they have given tens of millions of dollars to republican causes, i will make sure that they give not one penny more to the republican party. promise? what are you going to do, right? give it to the democratic party instead? perhaps you should start a third party. i mean, i'm not allowed to make political contributions because of my job, but as a liberal i maybe would cheat to contribute to your third party idea. you're right, the republican party is not pure enough, not conservative enough. you guys should starve the republican party, make your own thing, split away, new party, call it the tea party. it's already got party in the name. i would support that. every liberal in america will f
priebus unless the fiscal cliff negotiations in d.c. go the way they wants them to go, he will personally cut off the spigot of conservative money to the republican party. he says, quote, i will make it my mission to ensure that every conservative donor to the republican party that i have worked with for the last three decades, and there are many, and they have given tens of millions of dollars to republican causes, i will make sure that they give not one penny more to the republican party....
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speak up for the fiscal cliff is part of the half trillion dollars in cuts to the pentagon. the defense has been saying we will not plan for sequestration's because they don't want to be cautious because it is like a gun to the head. they're now looking into planning for this because we are getting pretty late, and that may become a reality. back to you. melissa: rich edson, thank you so much. lori: let's continue this discussion. it is going to happen, it is exactly what the democrats want. according to scott hodge of the tax foundation. what are some alternatives to raising revenue? joining me with some ideas. to your point, you're written quite extensively on this topic. it seems the economy is poised to fall off the cliff and that's what the democrats and the president wants to happen. >> they want to allow all the bush tax cuts to expire. it happens naturally automatically. they don't even have to vote for it. in january we had to lower taxes for everybody. getting it very simply. lori: a lot of people are concerned. if we do go over the cliff, there's no resolution for
speak up for the fiscal cliff is part of the half trillion dollars in cuts to the pentagon. the defense has been saying we will not plan for sequestration's because they don't want to be cautious because it is like a gun to the head. they're now looking into planning for this because we are getting pretty late, and that may become a reality. back to you. melissa: rich edson, thank you so much. lori: let's continue this discussion. it is going to happen, it is exactly what the democrats want....
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cliff, not only the spending cuts and tax increases but spending cuts particularly in defense. they don't want that. >> explain why what they agree on -- namely that the middle class, 98% of all taxpayers, that their taxes will stay the same, they will not go up. if everyone agrees at least on that, the president says, go ahead and pass that. why not just eliminate the 98% who won't have any changes, those making under $250,000? why not allow that to go forward? why are the republicans resisting on that. >> it could wind up there, wolf. but if the republicans lose that, they believe they kind of lose the leverage that they have. if they sort of give on that, then where's their leverage with the white house? so i think that in the end, wolf, if i had to bet -- and i don't like to bet on these things because they always disappoint -- but i would have to say that the one thing they are all likely to do at some point is to make sure the taxes do not go up on the middle class. but in order to do that, republicans want to get some concessions for that. it seems very easy to do that.
cliff, not only the spending cuts and tax increases but spending cuts particularly in defense. they don't want that. >> explain why what they agree on -- namely that the middle class, 98% of all taxpayers, that their taxes will stay the same, they will not go up. if everyone agrees at least on that, the president says, go ahead and pass that. why not just eliminate the 98% who won't have any changes, those making under $250,000? why not allow that to go forward? why are the republicans...
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. >> gregg: which is congress's job. [ laughter ] >> and more important than the fiscal cliff a lot of investment houses are lowering their growth outlook. that is because the owners of small businesses, they are the drivers of the economy. they hire. right now, one out of five cut jobs in the next 12 months. one out of three is cutting capital spending. if there is no jobs we don't have consumer spending that is 70% of g.d.p., so this is really steam rolling. it is frightening. >> gregg: i was reading economists and they say household purchases, wages in salary going down, durable goods decreasing now we have manufacturing coming out on monday as well as jobs report on thursday or friday? >> yeah, the jobs report is expected to be very dismal, about 75,000 net jobs. some of that is because of sandy, but housing market is rebuilding, it's recovering. that makes people feel more wealthy. this retail season is going to be very critical. it's going to tell us a lot. stocks could go up on that. we have some tail winds but right now there is a lot of question marks. >> gregg: brenda, we'll
. >> gregg: which is congress's job. [ laughter ] >> and more important than the fiscal cliff a lot of investment houses are lowering their growth outlook. that is because the owners of small businesses, they are the drivers of the economy. they hire. right now, one out of five cut jobs in the next 12 months. one out of three is cutting capital spending. if there is no jobs we don't have consumer spending that is 70% of g.d.p., so this is really steam rolling. it is frightening....
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but if you actually see the country going over the fiscal cliff, you see these huge spending cuts kicking in at the same time as higher taxes, i know the thinking is the president can say this is the republican's fault for doing this, but do you think he'd really stay over the cliff given what that would mean to the economy in such rapid fire fashion? >> i think the sequestration is more of a problem thax the tax rates. sequestration requires very big cuts very quickly which would jaw the economy. i think the president could give a speech over the next two weeks, prepare americans for going over the cliff and it's not guilty not going to be a big deal because tax rates are going to revert to where they were and the serious conversations with republicans begin. it gives everybody an opportunity to save face. the president gets what he wants. all the tax rates are go up. he can pull back the 98%. the republicans won't go against that. so in some ways, it works in everyone's political interest. sequestration is a big problem because if that goes into effect, the country certainly almost goes
but if you actually see the country going over the fiscal cliff, you see these huge spending cuts kicking in at the same time as higher taxes, i know the thinking is the president can say this is the republican's fault for doing this, but do you think he'd really stay over the cliff given what that would mean to the economy in such rapid fire fashion? >> i think the sequestration is more of a problem thax the tax rates. sequestration requires very big cuts very quickly which would jaw the...